White Stuff celebrates impressive year of growth
The UK fashion firm, White Stuff, is celebrating an exceptional year of success as shoppers enthusiastically return to the High Street post-pandemic.
With sales figures reaching £151.4 million in the 12 months leading up to April 29, the company has achieved a remarkable 13.3% increase from the previous year. Profits have more than doubled, soaring from £2.9 million to a solid £7 million.
White Stuff, with 123 stores across the UK, has reaped the rewards of customers flocking back to the High Street and shopping centres following the easing of lockdown restrictions. Notably, they managed to attract a record-breaking 317,000 new customers over the 12-month period.
Dresses have become a sought-after item, with sales soaring by an impressive 42%, and the menswear department also experienced a noteworthy 28% increase in sales. The company has reported this as a “strong” year of growth, signifying the early stages of their “ongoing business transformation.”
Breaking down the financial success, White Stuff posted an EBITDA of £7 million for the 52 weeks ending on April 29, 2023, compared to the previous year’s £2.9 million, when adjusted for non-recurring items, such as Covid-related grants and business rate reliefs. Total sales surged by 13.3% year-on-year, reaching an impressive £151.4 million, while total retail sales for the year also climbed by 18.1%, reaching a total of £73.9 million.
White Stuff’s growth extended across various channels, with total online sales increasing by 7.3% year-on-year, reaching £65.8 million. Wholesale sales also witnessed a notable increase of 20.6%, reaching a total of £11.7 million. Furthermore, the company experienced a substantial 21.7% year-on-year growth in total international sales.
The brand remains steadfast in its commitment to providing quality and sustainable clothing, focusing on certified sustainable materials and currently holding the title of the UK’s largest retailer of Fairtrade Sourced Cotton. Their charitable efforts continued, with a generous donation of £171,000 to various causes, including their main charity partner, Home Start UK, through the White Stuff Foundation.
Jo Jenkins, CEO of White Stuff, expressed optimism for the future, acknowledging the ongoing economic pressures on consumers but emphasizing the brand’s flexibility in responding to challenges and opportunities. She credited the exceptional results to the dedicated teams at White Stuff.
Jenkins added: “Our teams are vital to the success of the brand, and I’d like to thank everyone at White Stuff for all their hard work in delivering these exceptional results”.
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